USD/JPY: Decline to speed below 106.35

The USD/JPY pair is neutral-to-bearish and could accelerate its decline below 106.35, according to FXStreet’s Chief Analyst Valeria Bednarik.

Key quotes

“The US session will bring the ISM-NY Business Conditions index for April, previously at 12.9, and March Factory Orders, seen down in the month by 9.8%.”

“ USD/JPY is neutral-to-bearish, according to its 4-hour chart, as is struggling around a directionless 20 SMA but below firmly bearish 100 and 200 SMA.” 

“Chances of a clear directional move are limited in a risk-averse environment, although the decline could gain strength on a break below 106.35 last week’s low.”